Indonesian investment firm PT Multicapital and three local governments may pay about IDR4.1 trillion ($401 million) for a 10% stake in the local unit of Newmont Mining Corp. (NEM), a Multicapital executive told Dow Jones Newswires Monday.

Hariyadi, a director at Multicapital who uses a single name, didn't elaborate on when the consortium might complete its planned purchase of the stake in PT Newmont Nusa Tenggara, or PTNNT, the Newmont unit.

Hariyadi earlier Monday said Multicapital has been chosen by the provincial government of West Nusa Tenggara and the regencies of Sumbawa and West Sumbawa to partner them in the planned purchase of 10% of PTNNT.

-By Deden Sudrajat, Dow Jones Newswires; 62 21 3983 1277; Reuben.Carder@dowjones.com